From Matthew Graham at MortgageNewsDaily: Hits Keep Coming For Mortgage Market (The Bad Kind)
The positive close on a volatile Fed day offered false hope for rates–a fact that was laid bare with Thursday’s massive sell-off. Now on Friday, more false hope as another massive overnight sell-off gave way to a full recovery by 9:20am. Since then, however, it’s been all sellers.
In other words, bond tanked again.
On COVID (focus on hospitalizations and deaths):
| COVID Metrics | ||||
|---|---|---|---|---|
| Now | Week Ago |
Goal | ||
| New Cases per Day2 | 53,376 | 62,577 | ≤5,0001 | |
| Hospitalized2 | 24,764 | 27,762 | ≤3,0001 | |
| Deaths per Day2 | 356 | 428 | ≤501 | |
| 1my goals to stop daily posts, 27-day average for Cases, Currently Hospitalized, and Deaths 🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths ✅ Goal met. |
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Click on graph for larger image.
This graph shows the daily (columns) and 7-day average (line) of deaths reported.
NOTE: Cases have declined by more than half, and deaths lag cases – so we might see average daily deaths in the 200s soon (good news, but still too high).
Average daily deaths bottomed in July 2021 at 214 per day.